BrainChip Appoints New Chief Executive Officer Louis DiNardo

ALISO VIEJO, CA--(Marketwired - October 04, 2016) - BrainChip Holdings Ltd ("BrainChip" or the "Company") (ASX: BRN) announced today that Louis DiNardo has been appointed as the Chief Executive Officer of the Company effective September 29, 2016 (US EST), September 30, 2016 (Australian WST). Interim CEO and Founder, Peter Van Der Made, will continue to serve as Chief Technology Officer.

Mr. DiNardo has a strong track record of growing publically listed and privately owned technology businesses, and has worked in venture capital firms where he has successfully backed a number of emerging technology companies. His management skills and experience in finance will be instrumental in launching BrainChip on its next phase of growth.

He is currently a board member of NYSE-listed Quantum Corp., a data management company; and Conexant, a privately held fabless semiconductor company based in California, USA.

Some of his recent roles include the President and CEO of Exar Corporation, where he was credited for turning around the underperforming NYSE-listed mid-cap semiconductor company by revamping the management team, cutting operating expenses and growing revenue and profit. His efforts helped Exar achieve 16 consecutive quarters of revenue and EPS growth.

Before Exar, Mr. DiNardo was responsible for investing in and overseeing a portfolio of companies, including programmable logic companies, while he served as a partner at Crosslink Capital from 2008 to 2012 and the Managing Director at Vantage Point Venture Partners from 2007 to 2008.

Mr. DiNardo also served as President and CEO, as well as Co-Chairman of the Board of Directors, at Xicor Corporation from January of 2001 until NASDAQ-listed Intersil Corp acquired the company in July of 2004. He subsequently held senior executive positions at Intersil and became its President and Chief Operating Officer.

"Louis joins us at a key juncture of our journey. His deep corporate and strategic skills in the US semi-conductor industry, along with his fundraising experience, will help transition BrainChip into a global Company at a time when our technology is gaining traction in the marketplace," said the Chairman of BrainChip, Mick Bolto.

"I would also like to acknowledge the leadership and guidance offered by Peter Van Der Made, who had to act as the interim CEO while undertaking his other key responsibility of overseeing the development of our unique technology," added Bolto.

About BrainChip Holdings Ltd (ASX: BRN)BrainChip Inc., located in Aliso Viejo, CA, has developed a revolutionary new Spiking Neuron Adaptive Processor (SNAP) technology that has the ability to autonomously and rapidly learn and associate information just like the human brain. SNAP technology learns in seconds. This exemplifies a new level of machine learning that is expected to surpass deep learning, which requires days or weeks to train. The SNAP technology is fast, completely digital, and consumes very low power. Additional information is available by visiting www.brainchipinc.com.

Forward Looking StatementsThis press release may contain certain forward looking statements and information, as defined within the meaning of Section 27A of the Securities Act 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the Safe Harbor created by these sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of BrainChip Holdings Limited to be materially different from the statements made herein.